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Shanda Increases Share Repurchase Plan
December 31, 2008 |
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Comments | Category: Business
Chinese online game developer Shanda (SNDA) has expanded the aggregate dollar value of outstanding shares and may repurchase under its current share repurchase program from USD200 million to USD300 million.
This figure includes USD175 million worth of its outstanding shares the company has agreed to repurchase pursuant to an accelerated share purchase program. The share repurchases may be made on the open market, in block trades or pursuant to a 10b5-1 plan and will be made subject to restrictions relating to volume, price and timing.
The share repurchase plan does not obligate the company to repurchase a minimum number of ADSs, and the share repurchase plan may be suspended or discontinued at any time.
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